Buyers and Sellers Rely on Residential Estate Sales Specialists
Buying or selling a home is one of the most-challenging events that many people may face, and especially in the current market, there is a demand for residential real estate specialists to help homebuyers and sellers wade through this confusing and often difficult process. People who participate in property transactions want the security of knowing they can rely on the services of a trusted real estate professional.
What Does a Real Estate Sales Specialist Do?
Residential estate sales specialists assist home sellers with the home listing process. They also assist potential buyers in locating properties for purchase. In addition to helping with the purchase and sale of individuals' houses, estate sales specialists may help grieving families deal with real property inherited after the death of a loved one.
Residential real estate sales specialists must have a knack for working with people. Though many people think a career in real estate is a purely business-focused profession, what people fail to realize is that it is also largely a people-based profession. To succeed in this field, you need a keen understanding of your clients' needs, and you will need good communication skills to work with your clients in meeting these needs.
Untapped Niches for Residential Sales Specialists
Foreclosure sales are a relatively untapped niche for real estate sales specialists. When many would-be homebuyers review home listing information, they may inadvertently overlook opportunities for the purchase of foreclosure homes. This may stem in part from a desire to avoid profiting from the misfortune of others; however, once a home has been foreclosed upon, there is nothing that can be done for the unfortunate homeowner. The buyer of a foreclosed property could not have prevented the foreclosure from occurring. Now is an excellent time for many potential buyers who could not otherwise afford a home to be able to purchase a home, and a qualified real estate professional can reach this market by explaining the advantages of purchasing foreclosed homes.
A residential estate professional is not limited to assisting clients in buying and selling owner-occupied homes. Estate homes are another often untapped niche for real estate professionals. Estate homes are properties that are left after the death of a family member, and in many cases, the heirs are unable to keep or maintain estate homes. This is where the assistance of a trained real estate professional can help. People skills are particularly important in dealing with estate homes, since oftentimes the sellers are still grieving for the loss of a loved one. Distressed home sellers are often more motivated to sell their properties, making this market a win-win for both seller and real estate professional.
How Can I Become a Residential Sales Specialist?
In order to become a real estate professional, you must have a high school diploma and specialized training. College classes in economics, finance, business, real estate transactions, and similar topics can provide a helpful knowledge base. Many community colleges and technical schools offer these types of courses for credit or for personal advancement. While this type of education is helpful, it is not an absolute requirement for most residential estate sales specialists.
Another route toward becoming a successful real estate professional is mentorship under an experienced sales agent or broker. Large firms often have extensive training and recruitment programs. Seeking an internship or entry-level position in such a firm is an excellent way to get your feet wet in the residential real estate business.
Every state has licensing requirements for real estate professionals. Usually, this involves passing a written test that includes a variety of questions about the basics of real estate laws and transactions. Many states require up to ninety hours of classroom instruction to become eligible to take the exam. This requirement can generally be met through employer training or classroom courses.
Is Residential Estate Sales the Right Choice for Me?
If you are good with people, enjoy transactional work, and are able to negotiate in sometimes difficult circumstances, a career in residential real estate might be right for you. Other advantages of this career choice include the ability to largely determine your own working hours and the many options for flexibility in achieving work-life balance. A career in residential estate sales works especially well for those who have a keen business sense and for those who enjoy working closely with people to help them achieve specific goals. Another crucial element is the ability to research and employ what you learn about trends in residential real estate markets. If these characteristics describe your skills and abilities, a career as a residential estate sales specialist might be right for you.
